Wellington Management Group LLP Buys 1,318,754 Shares of Coterra Energy Inc. (NYSE:CTRA)

Wellington Management Group LLP increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 72,528,767 shares of the company’s stock after purchasing an additional 1,318,754 shares during the quarter. Wellington Management Group LLP owned approximately 0.09% of Coterra Energy worth $1,852,385,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Private Trust Co. NA grew its holdings in shares of Coterra Energy by 20.0% during the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after purchasing an additional 356 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after buying an additional 389 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after buying an additional 413 shares during the period. Blue Trust Inc. raised its stake in shares of Coterra Energy by 5.8% in the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after buying an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in shares of Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after acquiring an additional 421 shares during the period. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of analyst reports. Raymond James lowered their target price on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Morgan Stanley cut their target price on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday. Mizuho upped their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Jefferies Financial Group increased their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.35.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $28.65 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a 50 day simple moving average of $27.91 and a 200 day simple moving average of $26.06. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm has a market cap of $21.89 billion, a P/E ratio of 17.26, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is presently 58.28%.

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.